New Issue: Morgan Stanley prices $533,000 contingent income autocallables on Russell, S&P

New York, May 25 – Morgan Stanley Finance LLC priced $533,000 of contingent income autocallable securities due Nov. 1 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Investors will receive a coupon of 7%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on the related quarterly observation date.

The securities will be called automatically at par if the level of each underlying index is greater than or equal to its initial level, starting Jan. 27, 2022 on any quarterly call determination date.

If the notes have not been called, the payout at maturity will be par unless either index closes below its downside threshold during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the lesser-performing index finishes below its initial level.

The notes are guaranteed by Morgan Stanley.

Morgan Stanley & Co. LLC is the agent.

Issuer:	Morgan Stanley Finance LLC
Guarantor:	Morgan Stanley
Issue:	Contingent income autocallable securities
Underlying indexes:	Russell 2000 index and S&P 500 index
Amount:	$533,000
Maturity:	Nov. 1
Coupon:	7%, paid quarterly, if each underlying index closes at or above its 70% downside threshold on the related quarterly observation date
Price:	Par
Payout at maturity:	Par unless either index closes below its downside threshold during the life of the notes and either index finishes below its initial level, in which case investors will lose 1% for every 1% that the lesser-performing index finishes below its initial level
Call:	Automatically at par if the level of each underlying index is greater than or equal to its initial level, starting Jan. 27, 2022 on any quarterly call determination date
Initial levels:	2,252.491 for Russell 2000, 4,551.68 for S&P 500
Downside threshold:	1,576.744 for Russell 2000, 3,186.176 for S&P 500, 70% of initial levels
Pricing date:	Oct. 27, 2021
Settlement date:	Nov. 1, 2021
Agent:	Morgan Stanley & Co. LLC
Fees:	0.375%
Cusip:	61773F8P1

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